Public Storage (NYSE:PSA) Shares Acquired by Capital International Inc. CA

Capital International Inc. CA increased its holdings in shares of Public Storage (NYSE:PSA) by 17.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,603 shares of the real estate investment trust’s stock after purchasing an additional 1,612 shares during the period. Capital International Inc. CA’s holdings in Public Storage were worth $3,175,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PSA. Quent Capital LLC raised its stake in Public Storage by 135.1% during the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 50 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Public Storage during the fourth quarter worth $32,000. Synergy Asset Management LLC acquired a new position in Public Storage in the 4th quarter valued at $38,000. Millstone Evans Group LLC purchased a new position in Public Storage during the 4th quarter worth $38,000. Finally, Bridge Generations Wealth Management LLC purchased a new stake in shares of Public Storage in the fourth quarter valued at about $56,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Trading Up 2.3 %

Public Storage stock opened at $295.75 on Monday. The stock has a 50-day moving average price of $295.93 and a 200 day moving average price of $311.30. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99. The stock has a market cap of $51.88 billion, a PE ratio of 30.71, a P/E/G ratio of 4.91 and a beta of 0.76. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date of this dividend was Thursday, March 13th. Public Storage’s dividend payout ratio is currently 112.89%.

Analyst Ratings Changes

PSA has been the topic of a number of analyst reports. Barclays reaffirmed an “overweight” rating and issued a $354.00 price objective (down previously from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. Mizuho began coverage on Public Storage in a report on Wednesday, April 9th. They issued a “neutral” rating and a $287.00 target price for the company. Royal Bank of Canada reduced their price objective on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and upped their target price for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Finally, Scotiabank upgraded Public Storage from a “sector perform” rating to a “sector outperform” rating and lowered their price target for the stock from $333.00 to $305.00 in a report on Wednesday, April 9th. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $332.08.

Public Storage Company Profile

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.